Comcast To Acquire Time Warner Cable In $45.2 Billion Deal, Sources Say
International Business Times
Published Feb 12, 2014 10:43PM ET
Updated Feb 12, 2014 11:05PM ET
By Reuters Reporter - (Reuters) - Comcast CMSCA.O, the largest U.S. cable company, plans to acquire No. 2 Time Warner Cable (TWC.N) for $158.82 per share in an all-stock deal worth $45.2 billion that is expected to be announced on Thursday, according to two sources familiar with the matter.
Comcast is planning to acquire all of Time Warner Cable's shares in a friendly deal, said the sources, who did not want to be identified because the details of the deal were not yet public. The deal would be subject to regulatory approval and the companies expect the transaction would close by the end of the year, they said.
The sources said the merger would create $1.5 billion in operating synergies, with 50 percent of those synergies expected in the first year. Comcast is planning to divest 3 million of its U.S. subscribers as part of the deal.
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Written By: International Business Times
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